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October 17, 2016

When a diamond isn't forever

"Couples who
spend more on engagement rings and wedding festivities are more likely to wind
up divorced."

"While student loans are a painful, long-term expense, they are also
an investment in one’s career and earnings prospects. But what does
lavish spending on a wedding provide?It can lead to divorce, according to a study
by Emory University researchers Andrew Francis and Hugo Mialon. More
interesting, they suggest that the stress that comes with wedding debt
might be the underlying cause for the unhappy outcomes.Weddings, which peak in early summer and surge again in the fall,
have become more elaborate over the years. Engagement rings usually have
diamonds – that wasn’t always the case. The average expense for a
wedding and reception in this country is now $30,000.But the researchers found that women who spend more than $20,000 on a
wedding were nearly four times more likely to become divorced than
women who spend under $10,000. In the case of men, buying a more
expensive engagement ring was linked to a higher divorce rate."